As a result of the acceleration and incubation support policy, Caixa Capital developed a partnership with Startup Lisboa to invest €100k in the most promising incubated startup. Today Caixa Capital announced PRODSMART as the grand winner of the 1st Startup Lisboa Boost edition.
PRODSMART provides real-time analytics for production lines, creating “smart factories”. By using mobile devices and sensors to collect work data directly from the shop floor, it eliminates paper and provides data that reduces waste and increases efficiency.
Gonçalo Fortes, CEO at PRODSMART, stated:
We are very proud to have been selected as the winner of the 1st edition of Startup Lisboa Boost and look forward to working with Caixa Capital to help us with our expansion to the German market and access their network of international investors.
Recently PRODSMART was accepted into Techfounders, a 5-month acceleration program for Industry 4.0 and IoT startups run by Unternehmertum, of the Business and Innovation Centre of the Technical University of Munich. During the program, PRODSMART will be working with FESTO, a big player in the industrial automation field with over €3bn in sales and over 300 thousand customers worldwide. The startup is also part of #3 Startup Braga/FLAD Acceleration Program, where it might receive another €100k investment by Caixa Capital.
By winning Startup Lisboa Boost, PRODSMART will also participate in the Caixa Empreender Award event, to be held on 3 February 2016, where it will be eligible for an additional €100k in funding.